Lifetime Gift Tax Exclusion 2024 Per Person . Another way to skirt around the gift tax is the lifetime gift tax exemption. Also for 2024, the irs allows a person to.
The lifetime gift tax limit for 2024 is $13.61 million, up from $12.91 million in 2023. The irs has announced that for 2024, the federal lifetime gift and estate tax exemption amount will increase to $13.61 million per person.
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